Ballentine Partners LLC Purchases Shares of 29,140 QuantumScape Corporation $QS

Ballentine Partners LLC purchased a new stake in shares of QuantumScape Corporation (NYSE:QS) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 29,140 shares of the company’s stock, valued at approximately $196,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. M&T Bank Corp raised its position in QuantumScape by 97.2% during the 1st quarter. M&T Bank Corp now owns 39,964 shares of the company’s stock valued at $166,000 after purchasing an additional 19,694 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of QuantumScape by 362.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 379,018 shares of the company’s stock worth $1,577,000 after acquiring an additional 297,097 shares in the last quarter. Nuveen LLC bought a new position in shares of QuantumScape in the 1st quarter worth approximately $2,819,000. Perbak Capital Partners LLP bought a new position in shares of QuantumScape in the 1st quarter worth approximately $353,000. Finally, CacheTech Inc. bought a new position in shares of QuantumScape in the 1st quarter worth approximately $130,000. Institutional investors own 29.87% of the company’s stock.

Insider Buying and Selling

In related news, Director Fritz Prinz sold 929,813 shares of the firm’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $11.62, for a total value of $10,804,427.06. Following the transaction, the director directly owned 161,343 shares of the company’s stock, valued at approximately $1,874,805.66. This trade represents a 85.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Timothy Holme sold 358,330 shares of the firm’s stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $7.03, for a total value of $2,519,059.90. Following the completion of the transaction, the chief technology officer directly owned 1,705,428 shares in the company, valued at approximately $11,989,158.84. This represents a 17.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,791,051 shares of company stock worth $34,696,538 in the last quarter. Company insiders own 5.48% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on QS shares. TD Cowen raised QuantumScape to a “hold” rating in a research report on Monday, July 7th. Robert W. Baird increased their target price on QuantumScape from $6.00 to $11.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Six research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $5.88.

QuantumScape Price Performance

NYSE QS opened at $12.32 on Wednesday. The business’s fifty day moving average price is $9.67 and its 200-day moving average price is $6.74. The stock has a market capitalization of $6.97 billion, a price-to-earnings ratio of -14.32 and a beta of 4.42. The company has a debt-to-equity ratio of 0.03, a current ratio of 16.40 and a quick ratio of 16.40. QuantumScape Corporation has a 1-year low of $3.40 and a 1-year high of $15.03.

QuantumScape (NYSE:QS) last announced its earnings results on Wednesday, July 23rd. The company reported ($0.20) EPS for the quarter, hitting analysts’ consensus estimates of ($0.20). The company had revenue of $36.67 million during the quarter. During the same quarter in the prior year, the company posted ($0.25) earnings per share. On average, equities analysts predict that QuantumScape Corporation will post -0.82 earnings per share for the current year.

About QuantumScape

QuantumScape Corporation, a research and development stage company, focuses on the development and commercialization of solid-state lithium-metal batteries for electric vehicles and other applications. The company was founded in 2010 and is headquartered in San Jose, California.